NuStar GP Holdings, LLC (NuStar GP Holdings) is a limited liability company. the Company’s assets are its ownership interests in NuStar Energy L.P. (NuStar Energy). NuStar Energy is engaged in the terminalling and storage of petroleum products, the transportation of petroleum products, and anhydrous ammonia and asphalt and fuels marketing. NuStar Energy has terminal facilities in the United States, the Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom. On March 20, 2008, NuStar Energy acquired CITGO Asphalt Refining Company’s asphalt operations and assets (the East Coast Asphalt Operations). As of December 31, 2008, the Company’s aggregate ownership interests in NuStar Energy consisted of the 2% general partner interest; 100% of the incentive distribution rights issued by NuStar Energy, and an 18.5% limited partner interest.